Global healthcare deal value increased in October 2025: GlobalData
GlobalData reports higher M&A and venture investment activity in the healthcare sector in October 2025.
GlobalData has reported a sharp increase in deal value in the pharmaceuticals and healthcare industry during October 2025. The month recorded 66 deals worth $55.2 billion, compared to the 12-month average from October 2024 to September 2025 of 94 deals worth $14.3 billion. This represents a 476.7 per cent increase in deal value compared to October 2024.
Among the reported deals, Novartis AG announced the acquisition of Avidity Biosciences, Inc., a biopharmaceutical company focused on a new class of therapeutics enabling RNA delivery to muscle, valuing the company at approximately $12 billion. Novo Nordisk AS reported two transactions in the same period. The first was the acquisition of Akero Therapeutics Inc, a clinical-stage company developing treatments for metabolic diseases, for up to $5.2 billion. The second was an agreement to acquire global rights in all indications to develop and commercialise zaltenibart (OMS906) from Omeros Corporation for a consideration of up to $2.4 billion.
Venture capital funding also increased in October 2025. The healthcare industry recorded 105 venture capital deals worth $4.6 billion, compared to the 12-month average of 102 deals worth $2.5 billion, reflecting an increase of 28.2 per cent compared to October 2024. Kailera Therapeutics, Inc., a clinical-stage biopharmaceutical company, raised $600 million in a Series B round to advance its pipeline of next-generation therapies for obesity. Tubulis GmbH secured $356.7 million in a Series C round to expand the clinical development of TUB-040 into earlier lines of therapy and additional tumour indications. Kardigan Inc, focused on cardiovascular drug development, raised $254 million in a Series B round to advance its late-stage portfolio of personalised cardiovascular medicines.